US private equity investors have acquired the location intended for Britain’s first electric car battery gigafactory, casting doubts on the UK’s net zero objectives.
The plot in Cambois near Blyth, Northumberland, was earmarked for the £3.8bn Britishvolt factory until the company went into administration last year.
Northumberland County Council has now sold the site to Blackstone, which intends to develop a data centre there.
Britishvolt, previously supported by the mining giant Glencore, collapsed, resulting in over 200 job losses and missing out on £100m in government funding through the Automotive Transformation Fund.
Initially, an Australian firm, Recharge Industries, had planned to purchase the site but faced financial troubles, leading to a winding-up petition.
The acquisition by Blackstone, for an undisclosed amount, follows what the receivers at Begbies Traynor Group termed a “complex” sales process for the 235-acre site.
Cllr Glen Sanderson, the leader of Northumberland County Council, noted that Blackstone’s plans could bring up to £10bn in investment and potentially support around 4,300 jobs.
He stated, “Driving growth and jobs is a key priority for this Council. Next week, the Cabinet will review this truly unique opportunity for Northumberland, which promises significant benefits for the regeneration and revitalization of the local area.”
